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"They'll just raise prices if thy raise the minimum wage."
#42
RE: "They'll just raise prices if thy raise the minimum wage."
(April 14, 2014 at 1:14 pm)Heywood Wrote:
(April 14, 2014 at 12:40 pm)Fidel_Castronaut Wrote: Lack of resources.

Not a good answer. To negotiate, all you need is something the other guys wants(your labor), a mouth, and a brain.

I'll help you by providing a better answer.

If individuals are incapable of negotiating a fair wage it is because labor rates are set by the market....and not individuals.

[Image: Common_Cathode_11b.png]

Parsimony in economics arguments always make me laugh, so thanks for that. I'd probably give it a 3rd, for effort. No, lack of resources is very much a solid answer, regardless of whether you want to assess the (in)flexibility of labour markets.

Also HW, FWIW, I do agree with a lot of issues you raise regarding minimum wage legislation. I don't live in the US and I'm not (overly) familiar with the economic systems at play there, but in the Uk there have been mixed results, some positive some negative.
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Messages In This Thread
RE: "They'll just raise prices if thy raise the minimum wage." - by Fidel_Castronaut - April 14, 2014 at 1:18 pm

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